Mastercard buys AI firm, Pillar raises $21M: Friday Deal Book for 7/21/2017

One World Identity’s Friday Deal Book provides you with a weekly roundup of partnerships, funding, and product announcements in the identity industry. Here’s a quick peek at what you need to know for the week ending July 21, 2017.

Mastercard buys artificial intelligence shop Brighterion
Terms of the deal were not disclosed. Brighterion provides a platform of machine learning and artificial intelligence applications, that have been deployed for a variety of use cases including fraud prevention and data breach detection. Mastercard plans to integrate Brighterion’s Smart Agent product into its security solution to increase the accuracy of its risk management. Earlier this year Mastercard purchased NuData, a biometrics and behavioral analytics provider. While rising fraud rates have been a concern globally, the economic loss from false declines (erroneously denying good users) is estimated to be an order of magnitude higher. [Read more]

Personal data wallet provider Pillar raises $21 million through token sale
Pillar has raised 113,674 ether, valued at $21.21 million with 13,446 transactions through its token sale. The overarching goal of the Pillar project is to build a wallet and services that let consumers own their own data through “atomic ownership”. While the platform is open-source and free, users will pay for the various services with Pillar’s native utility token – the pillar (PLR). In the first half of 2017, token sales have driven more funding than venture capital investment. Pillar joins Sphre and Civic in completing a token offering for personal identity and data. [Read more]

UK privacy engineering startup Privitar raises $16 million Series A
The round was led by Partech Ventures, with participation from CME Ventures, Salesforce Ventures and existing investors IQ Capital, 24Haymarket and Illuminate Financial. This round brings Privitar’s total funding to approximately $21 million (£16.5 million). Privitar provides a suite of solutions targeting data compliance, including data minimization and auditing and tracking capabilities. The company plans to use the funds to expand its platform and move into the US market. The explosion of so-called ‘big data’ coupled with regulations and legislation on data localization and consumer consent in key markets such as the EU and China are driving the growth of data audit and compliance solutions. These trends have also driven cloud providers such as Amazon to evolve their physical data center presence by building local data centers in key markets to ease data localization concerns. [Read more]

Health tech startup BloomAPI raises $2.4 million for digital medical record sharing
The $2.4 million round included participation from Slow Ventures, Founders’ Co-Op, Liquid 2 Ventures, Parker Conrad and Section 32. BloomAPI provides software that can access a patient’s electronic medical record and securely send it to parties outside the hospital or practice. They aim to create a platform based on a series of APIs for vendors and hospitals to be able to connect with one another regardless of the underlying electronic medical record systems in use. The company plans to use the funds for hiring to grow its five person team. Despite mandates for medical record interoperability in the United States, many practices still rely on fax and paper based transmission of records. [Read more]

SWIFT expands its KYC Registry to non members
Starting in September all supervised financial institutions will be able to join SWIFT’s KYC Registry. The KYC Registry is a way for financial institutions to exchange know your customer (KYC) data with counterparties. To date, the registry has been only open to SWIFT connected supervised financial institutions, with nearly 4,000 members participating. As regulated financial institutions look to reduce the cost burden of performing KYC activities, the sharing of KYC data has emerged as an area of opportunity multiple consortiums are exploring. [Read more]